Questions / comments regarding the Beaufort client portal


235
views
1
12 weeks ago by
Please use this thread to post any questions / comments about the Beaufort client portal.

There is a helpful user guide for registering on the portal:

https://dm.pwc.com/BeaufortClientClaims/Resources/BeaufortUserGuide.pdf

And a FAQ

https://dm.pwc.com/BeaufortClientClaims/Resources/FAQs.pdf

If you are still having difficulties with this, you can call PWC up on their helpline 08000639283  to assist with this.

Community: Beaufort Clients
Hi why can I not just get my shares back surely they can’t do anything with them as they are registered in my name
written 12 weeks ago by GREG ALMOND  
Hi again if all the people holding which are obviously registered in individuals names how are they going access them?
if they have to ask our permission and we all say no where does that put us?
written 12 weeks ago by GREG ALMOND  
Sister has just spoken to a man who seems to know what he is talking about having worked for Beaufort for a number of years he said no one at Beaufort knew about this the FCA just walked in the offices and said they were being made bankrupt , My sister told him she had tried 25 pass codes and none of them worked he then tried it himself and told my sister he coul'nt even do it, he is going to send all the details about her holdings in the post ,So if you phone Beaufort up they can tell you the exact amount of shares you hold and cash in your account divis after march wont be in your cash account if you cant access your account ask them to send your holdings by post .seems no fees will be deducted from our holdings athey cant touch our shares the money is coming out of the larger cash accounts it seems .Also PWC are arranging transfers to a Broker of there choice you dont have to do this but the Guy at Beaufort said to keep it simple do that ,then you can transfer the Shares to your own Broker /Hope this helps ,
written 12 weeks ago by ron marshall  
Seems the transfer is taking place in the next 2 months .so fingers crossed for everybody
written 12 weeks ago by ron marshall  

10 Answers


0
12 weeks ago by
My wife and I are computer literate yet found our participation in the reconciliation process difficult and laboured. The authentication process was unstable, overly complicated, not standard within its context and potentially a source of further stress in a difficult time. Not worthy of a £1m/month service - By Dr. Christopher W
1
Totally agree with Dr Christopher. Portal is complex, unwieldy, and probably defeating for the unconfident or those not computer savvy. And someone (us?) is paying them a fortune!
written 12 weeks ago by George Renshaw  
0
12 weeks ago by
i got the first two emails, completed the registration and did not get anything further for Stage 2 of the client portal registration.
it ha been made deliberately difficult and tedious and i cant imagine the difficulties that  more older clients are facing
Did you set your password?
written 12 weeks ago by Nandish  
i clicked to set up a PIN and was expecting a follow up email as details in the client portal instructions that was sent by Lauren Hill and never got the Stage 2 email containing the password reset link
written 12 weeks ago by Chandresh Varsani  
I had the same problem and was never sent a password in the end i got hold of somebody who seemed to know what they were talking about and he did it manually i was then able to access my account they send you a new Pass code every time you go opn your Account
written 12 weeks ago by ron marshall  
i did a password reset request and finally got the password reset link.

it took about 2 minutes, very slow for modern day internet.
what was the point in setting a pin? its never requested,  very poorly designed system
written 12 weeks ago by Chandresh Varsani  
0
12 weeks ago by
I managed to register after about 4 days of trying my sister still has'nt got on the Portal .t I can see all my Shareholdings ,when you eventually manage to log on your sent a new E-Mail pass code than you can log in to see your accounts cash and shares 
Why o why cant my holdings now be transferred electronically to my new broker ?
written 12 weeks ago by ron marshall  
Page 15 of the proposals by PWC address this. We will know more when the CC meets.

These procedures are important for the following reasons: if Client Money and/or Client Assets were to be
distributed to those Clients to whom BACSL’s records indicate they are owed, without these procedures first
having been implemented, it is possible that competing Client Claims (not reflected in BACSL’s books and
records) could subsequently be asserted by Clients or other counterparties of the Companies, and that those
asserting such claims might contend that the earlier distributions of Client Assets ought to be disturbed, or that
Client Money already distributed ought to be recovered from the Clients to whom they were originally paid, for
the purposes of meeting the late claims.

In the circumstances, a significant advantage to Clients that will be secured by the Administrators following the
procedures set out above is that, once Clients receive their assets from BASCL in accordance with such
procedures, the applicable insolvency legislation expressly provides that such distributions cannot be disturbed
by late Client claimants who later assert that they were entitled to share in the Client Portfolios (i.e. the Clients
will receive good title).

We have explored the possibility of effecting such a transfer outside of the statutory process
described above, (with a view to effecting it more quickly than will be possible within the confines of
that process). We have reluctantly concluded that such a transfer outside the statutory process is not
practicable or in the interests of Clients, particularly in light of the point made above as regards finality once distributions have been made (i.e. Clients receiving good title). As it is, the Administrators hope
that a transfer of this nature may be achievable in or shortly after September 2018;
written 12 weeks ago by Nandish  
I just wish these PWC People would talk in a language we all understand there more like solicitors talking
written 12 weeks ago by ron marshall  
0
12 weeks ago by
Pwc originally advised that clients would be given access to view/print contract notes and transaction histories, but the new portal does not appear to have this facility. Can this info be accessed?
I can see all my holdings but dont think i see any contract notes etc  i had two statements cash account and shares i hold in the supposedly ring fenced account ,if it's ring fenced how are PWC planning to get money out of us the Shares are held in our name and cant be touched unless i'm missing something
written 12 weeks ago by ron marshall  
Rule 135 of the Special Administration Rules allows them to do this.

There is no money in the firm to pay for the return of client assets / money, so PwC are using that rule to charge us to return our assets and money.
written 12 weeks ago by Nandish  
0
12 weeks ago by
i would have thought the FSCS would be compensating us for monies taken off us from this lot
1
Yes, so if the costs charged by PWC to return your individual assets are equal or below £50,000, the FSCS will cover that. Anything beyond £50,000 will not be covered.
written 12 weeks ago by Nandish  
Ok thanks for that I've only got around £30.000 in share holdings feel sorry for others with a lot more
written 12 weeks ago by ron marshall  
0
12 weeks ago by
May I ask that according to most rulings given by a Court one is supposed to mitigate any loses thus keeping them to a minimum.
However, what if one's holdings suddenly exceed the FSCS's £50,000 limit then who should be held accountable as the client by virtue of PWC's actions are unable to trade with the result that both the taxpayer, who picks up the compensation cost and the client who could be seriously out of pocket?
Lastly, what value can PWC put on a stock that at the moment is not on any exchange?
Replies welcome.
0
12 weeks ago by
I was told it does'nt affect the share price i was told when the shares are transferred you get the market value of the Shares at the time they are transferred
Thanks for replying.
My point is that one is only covered for £50K by the FSCS.
So reading it the way it is written, if my shares increase beyond the £50K do I lose any excess is say the shares go up to £75K if I'm to be paid the market value of the shares instead of having the shares transferred to a new broker?
written 12 weeks ago by Chris Rickwood  
0
12 weeks ago by
I believe Pwc proposals state that their costs will be recovered by reducing share holding quantities based on 1st March share prices, rather than deducting monies from portfolio valuation.

If clients share prices have increased when the transfer finally happens, this will result in a further loss relating to the increased value of the shares Pwc deduct from portfolios.

Will these monies be returned to the clients affected or pooled and distributed to everyone?

Any replies would be appreciated.
Honestly dont know how there going to do it  cant get any proper answers from Beaufort person i spoke to said you get your shares at the market value dont know how there going to take there cut !
written 12 weeks ago by ron marshall  
Please do the read the post on the forum for the minutes for the meeting held on 10th May between PwC and the clients. There is a Q&A section on there which answers how PwC envisage deducting costs. Basically, they will give you the option to pay for these costs first without deducting your share holdings.
written 12 weeks ago by Nandish  
0
12 weeks ago by
I'm presuming the FSCS will compensate us for the fees deducted by PWC to have access to our ring fenced shares , which were supposedly safe . what a mess this whole thing is 
0
12 weeks ago by
Investing your hard earned money buying Shares  is risky enough ,without all this hassle ,even when there supposedly ring fenced .your money's still not safe ,thank god i did'nt have all my money in Beaufort ,Eggs and Basket's and all that
Please login to add an answer/comment or follow this question.

Similar posts:
Search »